Banco Inbursa Provides $35M Refinance Loan For Industrial Property In Mott Haven
325 Exterior Street, West Bronx, Bronx, NY, USA
$35,000,000
$1,348/SF
Building Size
25,962 SF
Asset Type
Industrial
Closing
Jul 9, 2021
AI
The industrial property located at 325 Exterior Street in Mott Haven has been involved in a loan transaction. The property, spanning 25,962 square feet, was refinanced for a loan amount of $35,000,000 by Banco Inbursa.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $35,000,000
- Address: 325 Exterior Street
- Market: Mott Haven
- Lender: Banco Inbursa
The loan was requested by the property's landlord, David Lichtenstein & Mitchell Hochberg of Lightstone Group. The refinance transaction allows them to secure the necessary funds while leveraging the value of their industrial asset in Mott Haven.
Players
Bronx Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93